How to go about securing the best savings strategy in Canada.
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The best high-interest savings accounts in Canada for 2024 + MORE Dec 10th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate mo.... More »
A tax guide for Canadians with disabilities + MORE May 6th
It is the understatement of the century to say that being disabled is expensive. Many advocates refer to the added financial burden as the “disability tax”—the extra, unavoidable costs of living with a disability. In Canada, where about 27% of people identify as disabled according to Statistic.... More »
Is this frugal Toronto artist’s $70,000 in savings enough for her to buy a property in the U.S.? + MORE Jul 3rd
If Joy were to buy a house in the U.S., writes financial expert Jason Heath, it’s probably best she get a pre-approved a mortgage before house hunting..... More »
Best FHSAs in Canada: Where to get the new first home savings account + MORE May 8th
First home savings account (FHSA) highlights
The FHSA is a type of registered account that allows you to contribute up to $8,000 annually, up to a lifetime limit of $40,000, to save for the purchase of your first home.FHSAs became available on April 1, 2023. However, availability is currently limite.... More »
A guide to the best robo-advisors in Canada for 2022 + MORE Jan 9th
“You had me at low fees!” That was our reaction to the arrival of robo-advisors in Canada, beginning in 2014. Faced with few alternatives to mutual funds and self-directed brokerage accounts, young and middle-income investors embraced the option of having their savings passively managed in a bu.... More »
This 28-year-old Halifax resident makes $48,500 and has $20,000 in savings. She’s ready for home ownership. Can she do it?
– thestar.com
Elizabeth keeps her day-to-day costs low by cooking at home, socializing at home and walking to work. With no student debt, she’s ready to move on from renting and buy a property with her partner.Introducing KOHO, a unique financial service app
– moneysense.ca
Nowadays, consumers can shop around for the low- or no-fee accounts, competitive interest rates, and additional features they want. And banks aren’t the only ones delivering financial services to Canadians. Fintechs, which integrate technologies into the financial sector, have empowered developers and inspired those on the vanguard to rethink financial services altogether. One such product is KOHO, a financial service app Canadians can use for spending, saving and budgeting. Users transfer money to a reloadable prepaid Visa card that serves as a no-fee spending account where you can earn 1.2% interest and instant cash back. How does KOHO work?
Think of KOHO’s standard savings account as a spending account with pretty good interest (compare KOHO’s 1.2% on your entire balance with traditional banks’ standard 0.05%). It has no fees, no matter how much money you hold. To get that rate, you’ll need to set up a regular direct deposit to your KOHO account (your paycheque or a portion of it; a government cheque; or even a PayPal deposit), and then opt into earning interest inside the app…
If you’re over 18 and working, it’s time to start diverting some money into long-term savings to begin building financial security for your future. Pay the tax now in a TFSA, or pay the tax later in an RRSP. Even better? Contribute to both, Lesley-Anne Scorgie writesThis 28-year-old Halifax resident makes $48,500 and has $20,000 in savings. She’s ready for home ownership. Can she do it?
– thestar.com
Elizabeth keeps her day-to-day costs low by cooking at home, socializing at home and walking to work. With no student debt, she’s ready to move on from renting and buy a property with her partner.As social bubbles, provinces and countries slowly open up again, many people are looking to salvage their travel plans for the year while others think about 2022. Admittedly, there’s still a lot of uncertainty in the world, but that isn’t preventing some providers from tempting lockdown-weary Canadians with discount deals on travel and accommodations.
Locking in savings is usually a win for travellers, but with COVID still rampant in many countries, some people are wondering if it’s worth travelling at all for the foreseeable future. Ultimately, the decision is up to you, but there’s no denying that savings are in the air. Here’s what you need to know about travel right now:
Air travel may or may not be more expensive
The demand for air travel has already increased, and we’re starting to see bigger crowds at the airports and on planes. Airlines will adjust their fleet as needed, but you shouldn’t expect the price of flights to swing one way or another. Similar to before the pandemic, airfare will be based on supply and demand…
Locking in savings is usually a win for travellers, but with COVID still rampant in many countries, some people are wondering if it’s worth travelling at all for the foreseeable future. Ultimately, the decision is up to you, but there’s no denying that savings are in the air. Here’s what you need to know about travel right now:
Air travel may or may not be more expensive
The demand for air travel has already increased, and we’re starting to see bigger crowds at the airports and on planes. Airlines will adjust their fleet as needed, but you shouldn’t expect the price of flights to swing one way or another. Similar to before the pandemic, airfare will be based on supply and demand…
